After TD Securities and Scotiabank gave Corus Entertainment (Other OTC: CJREF) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Aravinda Galappatthige maintained a Buy rating on Corus Entertainment yesterday and set a price target of C$6.25. The company’s shares closed last Tuesday at $3.74.
According to TipRanks.com, Galappatthige is a 4-star analyst with an average return of 6.4% and a 58.3% success rate. Galappatthige covers the Services sector, focusing on stocks such as Cogeco Communications, Shaw Communications, and Yellow Media.
Currently, the analyst consensus on Corus Entertainment is a Strong Buy with an average price target of $4.25, a 13.3% upside from current levels. In a report issued on January 5, TD Securities also maintained a Buy rating on the stock with a C$7.50 price target.
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Based on Corus Entertainment’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $318 million and net profit of $30.28 million. In comparison, last year the company earned revenue of $377 million and had a net profit of $22.95 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is neutral on the stock.
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Corus Entertainment, Inc. is a media and entertainment holding company, which engages in the provision of radio broadcasting, specialty television, digital audio services, and cable advertising services. It operates through the following segments: Television, Radio, and Corporate. The Television segment comprises of specialty television networks, pay television services, conventional television stations, and the Corus content business. The Radio segment includes radio stations with a concentration in the densely populated area. The Corporate segment refers to the incremental cost of corporate overhead in excess of the amount allocated to the other operating segments. The company was founded by James Robert Shaw on March 3, 1998 and is headquartered in Toronto, Canada.
